Avery Dennison Co. (NYSE:AVY) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,552 shares of the industrial products company’s stock after buying an additional 9,967 shares during the quarter. Raymond James & Associates owned approximately 0.33% of Avery Dennison worth $58,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Avery Dennison during the third quarter valued at about $32,000. Milestone Investment Advisors LLC bought a new stake in Avery Dennison in the third quarter worth about $36,000. Anchor Investment Management LLC bought a new stake in Avery Dennison in the fourth quarter worth about $42,000. VisionPoint Advisory Group LLC bought a new stake in Avery Dennison in the fourth quarter worth about $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Avery Dennison by 164.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares in the company, valued at approximately $606,383.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the sale, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock worth $4,217,705 in the last ninety days. 1.10% of the stock is owned by company insiders.

Avery Dennison Stock Up 0.9 %

Shares of NYSE AVY traded up $2.04 during mid-day trading on Friday, reaching $221.55. 319,981 shares of the company’s stock were exchanged, compared to its average volume of 470,654. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 3.38 and a beta of 0.91. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $216.39 and a 200 day simple moving average of $201.70. Avery Dennison Co. has a twelve month low of $158.93 and a twelve month high of $225.26.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.16. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the company earned $1.65 earnings per share. Avery Dennison’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts expect that Avery Dennison Co. will post 9.27 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 annualized dividend and a yield of 1.59%. Avery Dennison’s payout ratio is 47.30%.

Analysts Set New Price Targets

AVY has been the topic of a number of analyst reports. Citigroup lifted their price target on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Raymond James reissued an “outperform” rating and issued a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird lifted their target price on Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.